Court orders forfeiture of N1.04bn traced to Patience Jonathan – EFCC

The Economic and Financial Crimes Commission, EFCC has anchored a between time relinquishment of whole of N1,000,494,000 held up in three stores on twentieth and 25th May, 2015, the commission said in an announcement.

The announcement likewise expressed that the relinquishment arrange by Federal High Court sitting in Kano and directed by Justice A. Lewis-Allagoa is ensuing upon a movement ex parte recorded by the Commission looking for the between time relinquishment of the cash, which was found in the Bank record of Magel Resort Limited, an organization connected to the previous First Lady of Nigeria, Patience Jonathan.

The announcement proceeded,

The Commission had gotten an intel that a financial balance domiciled in Fidelity Bank, had a gigantic aggregate of cash that was not being utilized by anyone.

Endless supply of the insight, the EFCC swung vigorously by leading starter examination, which uncovered that Patience and a few relatives of previous president, Goodluck Jonathan were chiefs of the Company. Others named as executives are Oba Tamunotonye, Goodluck Jonathan Aruera, Goodluck Jonathan Ariwabai and Esther Fynface.

In attempting to follow the cause of the cash, it was found that N500,000 was kept on the twentieth of May, 2015 by Fynface, who is claimed to be responsible for the Company, while N1 billion (One Billion Naira Only) was moved in two tranches on the 25th May, 2015 from PAGMAT OIL AND GAS NIGERIA LIMITED an organization that was not consolidated with the Corporate Affairs Commission.

Controlling on the movement, Justice A. Lewis-Allagoa held that:

"A between time relinquishment arrange is allowed to the Federal Government in the total of N1,000,494,000 (One Billion, Four Hundred and Ninety Four Thousand Naira Only) in the Bank record of the first respondent Magel Resort Limited 4011019546 which is kept up with second respondent Fidelity Bank Plc".

The court additionally requested that the relinquished total be stored in the Treasury Single Account of the Federal Government.